Powell, Wall Street and s&p 500
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Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
Investors are bracing for volatility as Federal Reserve Chair Jerome Powell walks a fine line between curbing inflation and supporting the labor market, with thin August trading poised to magnify any market moves from his Jackson Hole speech on Friday.
The Federal Reserve’s annual conference, hosted by the Kansas City Fed in Jackson Hole, Wyoming, began Thursday evening with a dinner for the central bankers, economists and journalists who have flown in from around the world.
Wall Street is holding relatively steady ahead of a highly anticipated speech about where U.S. interest rates may be heading.
Stocks surged Friday and the Dow closed at its first record high of the year after Federal Reserve Chair Jerome Powell signaled interest rate cuts could be on the way.